Ellen Conlon reports for the Mancunion on the information found in a new study:

An entire term’s loan is spent within the first month of university by one in six students, a new study has found.

The average student will use up their first month’s loan by November 20th, seven weeks into term, says the survey, commissioned by VoucherCodes.co.uk, while one in six will spend it within 28 days.

‘Beer, cider and spirits’ was labeled the second-largest area of expenditure for the 1,000 students questioned, taking an average of £45 per month from each student, second to ‘supermarket shopping,’ while ‘new clothes,’ ‘eating out’ and ‘books’ also ranked as high money-takers.

Full story here.